20 Oct 10
New SMSF member verification system

The ATO has published two documents advising that from early November 2010, a new self-managed super fund (SMSF) member verification system will be available to provide greater transparency around super rollovers from APRA-regulated super funds into SMSFs. APRA-regulated funds and their administrators will now be able to confirm that an individual requesting a rollover to an SMSF is a member of the SMSF. For a copy of the documents, go here and here

For information about the SMSF registration process designed to prevent non-legitimate SMSFs from being listed on Super Fund Lookup, go here